Biomet agrees to private-equity buyout at $46 a share

RobertDaniel

TEL AVIV (MarketWatch) -- Biomet Inc., [S: BMET] the Warsaw, Ind., producer of joint-replacement products, said it agreed to be acquired for $46 a share, or $11.4 billion, by a private-equity group. The group members are Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and TPG. Morgan Stanley provided to Biomet's board an opinion that the deal is fair to holders. In May, the shareholder-advisory firm Institutional Shareholder Services urged holders to reject a $44-a-share, or $10.9 billion, deal from the group. Biomet shares closed Wednesday at $44.20.

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